NXT Announces New Licensing Agreement With Fiat Automotive

    LONDON--May 9, 2001--NXT today announced that it has secured an important new licensing agreement with Fiat Auto R&D USA.
    Fiat Auto R&D is Fiat's North American research and development agency, which has been established to evaluate emerging technologies in the U.S. The relationship builds on the initiatives established by NXT's successful exhibition at the recent Society of Automotive Engineers (SAE) show in Detroit, where NXT demonstrated the superior sound characteristics of its unique SurfaceSound(TM) loudspeaker technology in a number of specially-equipped demonstrator vehicles including a Mercedes S600 and Dodge Caravan.
    NXT's agreement with Fiat covers the implementation of NXT SurfaceSound(TM) technology in the Fiat Lancia Lybra, a four-door high-performance executive sedan. NXT engineers, working in close association with their Fiat counterparts, are installing SurfaceSound(TM) loudspeakers throughout the vehicle, in the door trim, instrument panel, and other locations. Because of their slim size, SurfaceSound(TM) loudspeakers can be placed in areas of the car not available using traditional speaker systems. With a minimum thickness requirement of approximately 1/2-inch, SurfaceSound(TM) high-fidelity loudspeakers can be fabricated in virtually any size and shape, including curved or contoured designs, to invisibly blend into a vehicle's interior.
    NXT's patented SurfaceSound(TM) technology offers acoustical benefits and installation options not possible with conventional loudspeakers. SurfaceSound(TM) loudspeakers deliver smooth, full-range sound quality throughout the vehicle, without the beaming and discontinuity of standard cone-type car audio speakers.
    The Fiat Lancia Lybra demonstration vehicle is already at an advanced stage of development in the U.S. Following local testing, the vehicle will be sent to Fiat headquarters in Turin, Italy for further review.
    NXT CEO David Pearson commented, " Fiat is one of the world's largest automotive manufacturers, and last year alone produced more than 2.7 million cars. As the latest licensee of NXT technology, Fiat joins the growing number of leading automotive manufacturers in recognizing the many unique benefits of NXT technology for auto sound applications."